Labour will 'give control of business rates to councils'

Labour will give control of business rates to local councils so they can collect the revenue themselves, rather than it being redistributed from the current central pool, Ed Miliband is expected to announce.

In his speech, the Labour leader will say:

The next Labour government will ensure city and county regions, like this powerhouse economy in Leeds, get control of business rates revenue so that any extra money raised here ... can be invested here.

I know the next Labour government cannot solve every problem by pulling levers in Whitehall.

We can only do it by working with, harnessing the energy, the ideas and the dynamism of great businesses, cities, county regions.